S&P 500 Hovers Near Its All-Time High; Oil Climbs: Markets Wrap
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(Bloomberg) — A slew of strong corporate profits lifted stocks a day after President Donald Trump extended a ceasefire with Iran, though attempts to resolve the conflict struggled without any signs that the key Strait of Hormuz will reopen soon. Oil gained.
UBS Faces $20 Billion Hike in Capital Needs Despite Rowback
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(Bloomberg) — The Swiss government outlined plans that would add $20 billion to UBS Group AG’s capital needs, even as it watered down some previously planned changes to the regulations.
UBS Sees $4 Billion Capital Impact From Swiss Executive Order
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(Bloomberg) — UBS Group AG estimated that the now-decided element of new Swiss banking rules will reduce company-wide CET1 capital by $4 billion once fully implemented, as it renewed its critique of the overall reform package.
US Stock ETF Rises Late as Trump Extends Ceasefire: Markets Wrap
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(Bloomberg) — A giant exchange-traded fund tracking US stocks climbed in late hours after President Donald Trump said he’s extending the ceasefire deal with Iran until talks conclude.
Ferrexpo Slumps After Warning Cash May Run Out by End of August
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(Bloomberg) — Ferrexpo Plc slumped 13% after the Ukrainian iron ore producer warned that without fresh funding it could run out of cash by the end of August.
Switzerland Set to Soften Some UBS Capital Rules, TP Reports
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(Bloomberg) — The Swiss government is set to present softened bank capital rules later today, according to the news portal Tippinpoint, in a move that would reduce the expected impact for UBS Group AG.
Goldman Sachs’ Alternatives Arm Buys Stake in Swiss AI Firm BLP
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(Bloomberg) — A unit of Goldman Sachs Asset Management invested $50 million in BLP Digital, a Swiss artificial intelligence company that helps companies automate financial processes such as invoicing and internal reporting.
UBS Set for Long-Awaited Clarity on Switzerland’s Capital Rules
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(Bloomberg) — UBS Group AG is finally about to find out just how many billions of dollars Switzerland will strip from its capital buffers.
Barclays, Lloyds, UBS Among Banks Picked by UK FCA for AI Tests
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(Bloomberg) — Barclays Plc, Lloyds Banking Group Plc and UBS Group AG are among the latest group of lenders in the UK authorized to develop and test out real-world artificial intelligence applications, according to the Financial Conduct Authority.
Swiss Watch Exports Dipped in March Amid Iran War and High Costs
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(Bloomberg) — Swiss watch exports slid in March as the industry faced disruptions in the Middle East and contended with high precious metal costs.
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(Bloomberg) — Swiss real wages grew 1.6% last year, the biggest increase since 2009, according to the national statistics office.
Stocks Fall, Oil Jumps on Doubts Over Peace Deal: Markets Wrap
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(Bloomberg) — A rally in oil drove stocks lower as a turbulent weekend in the Middle East cast doubt on prospects for peace talks between the US and Iran before their fragile ceasefire deal expires.
War Revives Stagflation Dangers for Global Economy
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(Bloomberg) — The cumulative global impact of seven weeks of war in the Middle East will begin to emerge in the coming week, in a second round of business surveys from multiple countries.
China Calls On Swiss Firms to Step Up Investment, Cooperation
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(Bloomberg) — China Vice Commerce Minister Ling Ji urged Swiss companies to increase investment and cooperation with the Asian nation, highlighting opportunities under its 15th Five‑Year Plan.
Wall Street Extends April Surge on Peace Prospects: Markets Wrap
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(Bloomberg) — Speculation the Iran war is poised to end sent risky assets surging anew, extending a month-long rally that’s lifted the S&P 500 Index to a succession of records, added around $12,000 to the price of Bitcoin and pushed up credit and gold.
SNB’s Schlegel Stresses Higher Willingness on FX Interventions
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(Bloomberg) — The Swiss National Bank is more willing than usual to step into markets to ensure price stability amid higher energy prices, according to President Martin Schlegel.
Yield Bets Pay Off for Traders Willing to Tune Out War Risks
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(Bloomberg) — Those credit investors who gambled on higher-yielding corporate bonds in the midst of the Iran war are looking increasingly vindicated as markets rebound on hopes of a lasting truce.
Stocks Eke Out a Record as Mideast Tensions Linger: Markets Wrap
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(Bloomberg) — US stocks held onto record highs as traders digested a flurry of headlines on the conflict in the Middle East, brushing aside warnings that the US-Iran war would continue to linger for months.
SNB Backs Measures to Boost Competition on Cashless Payments
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(Bloomberg) — More competition in the processing of cashless payments would benefit consumers and improve resilience, according to two senior Swiss National Bank officials, who said authorities can take measures to encourage this.
